Callouts & quotes from 37,061+ activist slides

"Fannie Mae was chartered to support liquidity, stability, and affordability in the secondary mortgage market"

"It is self-evident that the process would create tin splatter and clouds of debris inside the Lasertec tool."

"Lasertec’s recent growth driven by EUV transition for 5N and is now over; N3 purchase orders will be delayed"

"We note, however, that the chairman of Hadassah is on NNOX’s board and received options with a $2.21 strike."

"Our research shows Dealers are "highly incentivize to encourage customers to use Canadian Tire Credit Cards""

"Fuji Xerox "does not appear to be growing or doing much better than Xerox" — Barclays Equity Research Report"

"such inclusions more accurately represent the cash flows in that strategy — Burford Capital (quoted in text)"

"Creative Acquisition Counting Conceals Financial Problems, Inflates Profitability — Prescient Point Research"

"“We cannot bring in outside people at too senior a level or they will fail” — David Taylor (to Nelson Peltz)"

"U.S. Defense Department says Tencent and other Chinese companies have ties to China's military — cbsnews.com"

"Just as it's enjoying a reprieve in the U.S., Celgene's Revlimid gets generic rival in Europe — FiercePharma"

"Just as it’s enjoying a reprieve in the U.S., Celgene’s Revlimid gets generic rival in Europe — FiercePharma"

"“WFG represented 71% of total Transamerica individual life sales in this quarter.” — Aegon Q1’24 Update Call"

"We are already in around 200 stores in few of the states, that Lowe selected. — Caesarstone Q1 Earnings Call"

"「放電生成プラズマ方式は将来性のない方式です。ウシオは戦略的な誤りをしました。放電生成プラズマの欺瞞の単純さに酔った結果、誤ってその方式を採用した、ということです」 — Isteqの研究開発部門における中心的な従業員"

"「いいえ、ただ不安定だけです。安定して機能するのではなく、ときによって機能しなくなることがあります。消けてしまうのです。そのような光源については、よく知っています。」 — KLAで極端紫外線マスク検査を担当した元幹部"

"A disclosure on page 128 of Wuhan DDMC’s 2018 annual report further belies IQ’s non-cash contribution claim."

"From Phillips 66's April 24 Letter: "Elliott's competitive interests merit careful attention." — Phillips 66"

"Newell engaged in a scheme to prematurely recognize revenue called "Pick and Holds" — SEC Litigation Release"

"U.S. Defense Department says Tencent and other Chinese companies have ties to China's military — cbsnews.com"

"「私がみているかぎり同じです」 — Ushio Field Service Engineer regarding the similarity between A150 and A300 light sources."

"Trading will resume once the audit report for the previous fiscal year is confirmed — Seoul exchange website"

"IF P&C, one of the best P&C assets in Europe, represents ~75% of Sampo’s value ex-Nordea, ex-PE investments"

"We therefore believe the IRS and the investing public should heavily discount and / or totally ignore them."

"With the right strategy and execution, AAP will be well positioned to capitalize on favorable market trends"

"Nuvei’s CEO And CFO’s Past Historical And Current Close Business Relationships Should Cause Serious Concern"

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Share price stagnation reflects ongoing concerns about the impact of low oil prices on HHC’s Houston assets"

"The findings of the FTC substantially agree with our assertion that Herbalife operates as a pyramid scheme:"

"BRX’s range of quarterly SPNOI prior to being restated looks strikingly similar to HTA’s results since 2013"

"Since the spinoff from GGP in November 2010, The Howard Hughes Corporation’s share price has increased 219%"

"Dye & Durham's total shareholder returns have been disappointing over every relevant period, as seen below."

"As evidenced by the FOIA document below, there are no applications or permits submitted on ABML’s property."

"Three weeks later, on October 15, 2010, WCT Resources flipped certain of those specific leases to SandRidge"

"We would recommend reducing and leveraging Hunter/Farmer + Product / Solution + Industry / Vertical models."

"XPO makes aggressive use of off-balance sheet leases relative to its larger and better credit worthy peers."

"Many of these businesses are developing very, very well; however, others are not doing as well as expected."

"This allows us to conservatively estimate that organic headcount has been close to zero over the past year."

"The purpose of the spin was to further improve performance – not take a major and prolonged step backwards."

"Wall Street research estimates Ultimate’s structural margin potential to be 30% – 40% when it reaches scale"

"ADP’s underperformance in Employer Services is driven by numerous inefficiencies across ADP’s organization:"

"Vivendi is a sprawling media company which has systematically divested all but one of its telecom holdings."

"Since the beginning of 2021, we initiated four new investments and exited two highly successful investments"

"We remain disciplined in seeking a potential transaction for PSTH that meets our core investment principles"

"It does not seem that the sell-side considered the positive effect Helly Hansen had on retail gross margin."

"Remove a management team that has a proven track record of failing to bring cost-savings to the bottom line"

"The chain of events leading up to the recent news of the alleged Supermicro espionage is cause for concern."

"Greenlight has identified 35% of Allied's specialty finance portfolio that may be carried above fair value."

"We used empty legal entities as a kind of 'bad bank' for everything that couldn't be explained at the time."

"We didn't, we do not do factoring. We never did factoring. There's, uh—we don't see reasons for doing that."

"Contrary to TSE policies and all peers, Keisei refuses to base executive pay on Company performance metrics"

"The opportunity to increase alcohol sales could drive an estimated $56 million in annual EBITDA improvement"

"We believe a multi-step separation would maximize value while enhancing Darden's credit rating and dividend"

"Family Dollar has several initiatives in place to support management's 4-6% medium-term SSS growth guidance"

"Despite Years of Press Releases, Still Limited Committed Customers: Caught Between A Rock And A Hard Place?"

"We believed there was significant opportunity to improve these companies on a growth + profitability basis."

"Using market multiples for the rest of Phillips' assets implies its Refining system is valued at $1bn today"

"A number of solid-state battery experts have questioned whether Quantumscape’s battery is even solid-state."